From TokenPost · · 40s
Peter Schiff Calls Strategy’s STRC 'Dead'
Economist Peter Schiff labels Strategy’s STRC preferred stock 'dead' as buybacks continue.
In brief
Economist Peter Schiff labels Strategy’s STRC preferred stock 'dead' as buybacks continue. Economist Peter Schiff says Strategy’s STRC preferred stock is dead after buybacks continue to fund its $100 target. Originally reported by TokenPost.
Peter Schiff calls STRC 'dead'
Economist Peter Schiff declared Strategy’s STRC preferred stock 'dead' on Nov. 9, challenging its use of buybacks to support trading near $100.
“dead”
Strategy buys 1.88m STRC shares
Strategy bought 1,887,464 shares for $188.3 million during Nov. 2, 8, funding purchases with MSTR sales proceeds.
STRC trading near $100 target
STRC is Strategy’s variable-rate perpetual preferred stock with a 12% annualized dividend rate on its $100 stated amount.
The headline
Economist Peter Schiff says Strategy’s STRC preferred stock is dead after buybacks continue to fund its $100 target.
